The Private Sector Isn’t Doing Fine

On Friday, President Obama claimed “the private sector is doing fine,” and that it’s a lack of investment in new government jobs that is holding the economy back. The president then went on to say just yesterday that “we’ve made significant progress” on the economy. 

Unfortunately for the 23.2 million unemployed or underemployed Americans, the president’s rhetoric shows just how out of touch his policies are with the harsh economic reality facing middle-class families.

Rhetoric: “The private sector is doing fine.” – President Barack Obama, June 8, 2012

Reality: Unemployment for government workers is currently 4.2 percent – approximately half the national average of 8.2 percent. 

Reality: Since the pre-recession peak of employment in January 2008, 11 private sector jobs have been lost for every one government job lost.

Reality: National unemployment has been above 8 percent for a post-WWII record of 40 straight months.

Reality: Federal employees earn on average 16 percent more than their private sector counterparts.

Reality: The Obama economy has resulted in the slowest recovery in the past 60 years.

Reality: The largest tax hike in America’s history is looming just six months away.  Small businesses, which account for over 60 percent of new jobs, now rate taxes as their single most important problem. 

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